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Chatham Lodging Trust (CLDT) is a publicly traded real estate investment trust (REIT) based in the United States, specializing in owning upscale extended-stay hotels. Chatham's portfolio spans across key states such as California, New York, Texas, Florida, Minnesota, Massachusetts, and Pennsylvania, among others. The firm's mission is to strategically invest in high-quality extended-stay hotels that promise superior returns.
All of Chatham's assets are held and operated by its Operating Partnership, Chatham Lodging, LP. This partnership, along with its subsidiaries, is responsible for leasing and managing the entire portfolio of hotels under the Chatham banner. The company operates through a single segment due to the uniform economic characteristics of its properties.
Chatham Lodging Trust generates revenue from three primary streams: Room, Food and Beverage, and Other. The majority of the revenue comes from Room charges, which cover the cost of lodging. Their properties operate under prominent and trusted brands such as Hilton, Marriott, and Hyatt, ensuring a consistent and high-quality guest experience.
In recent developments, Chatham has continued to focus on optimizing its portfolio by enacting strategic acquisitions and improvements across its properties. The company remains financially robust with a commitment to maintaining a strong balance sheet and delivering value to its shareholders.
Chatham Lodging Trust is dedicated to providing upscale accommodations and exceptional service to its guests, while simultaneously driving growth and profitability for its investors. Keep up with the latest news and updates about Chatham Lodging Trust to stay informed about their performance, events, and significant developments.
Chatham Lodging Trust (NYSE: CLDT) announced the federal tax characterization of dividends declared for its preferred shares in 2021. The Series A Preferred shares dividends are $0.48307, payable on 10/15/21, and $0.41406, payable on 1/18/22. These dividends are reported as taxable ordinary income and do not represent foreign taxes or qualified dividend income. Shareholders will receive IRS Form 1099-DIV for tax reporting. The tax classification is preliminary and shareholders are advised to consult tax professionals.
Chatham Lodging Trust (NYSE: CLDT) will release its fourth quarter 2021 financial results on February 24, 2022, before market opening. CEO Jeffrey H. Fisher and other executives will discuss the results in a conference call at 10:30 a.m. ET. The company operates 41 hotels across 15 states and the District of Columbia, focusing on upscale, extended-stay and premium-branded, select-service hotels. Interested parties can participate via webcast or by telephone. A recording will be available until March 3, 2022.
Chatham Lodging Trust (NYSE: CLDT; CLDT-PA) announced a preferred share dividend of $0.41406 per share, set for payment on January 18, 2022. Shareholders on record as of December 31, 2021 will receive this dividend. The company focuses on upscale, extended-stay hotels and owns 41 hotels with 6,169 rooms/suites across 15 states and the District of Columbia.
Chatham Lodging Trust (NYSE: CLDT) reported strong third-quarter results for 2021, with a 92% increase in RevPAR to $107, driven by a 39% rise in ADR to $150 and 38% occupancy boost to 71%. The net loss decreased significantly to $1.4 million, from $18.3 million year-over-year. Adjusted EBITDA surged to $19.6 million from $5.1 million in Q3 2020, while Adjusted FFO reached $10.5 million compared to a loss in the prior year. Acquisitions of two hotels for $71 million enhanced portfolio quality. Chatham also amended its credit facility, improving financial flexibility.
Chatham Lodging Trust (NYSE: CLDT) will report its third quarter 2021 financial results on November 4, 2021, before market opening. A conference call will follow at 10:00 a.m. ET featuring CEO Jeffrey H. Fisher and other executives to discuss results. The company, which invests in upscale, extended-stay and select-service hotels, owns 41 hotels with a total of 6,169 rooms across 15 states and the District of Columbia. The call will be available via webcast, and a recording will be accessible until November 11, 2021.
Chatham Lodging Trust (NYSE: CLDT; CLDT-PA) has announced a preferred share dividend of $0.48307 per share, payable on October 15, 2021. Shareholders on record as of September 30, 2021 will receive this dividend, marking a significant return for investors. The company, focusing on upscale, extended-stay hotels and select-service hotels, owns 41 properties totaling 6,169 rooms across 15 states and the District of Columbia. Chatham's commitment to shareholder returns is demonstrated through this dividend declaration.
Chatham Lodging Trust (NYSE: CLDT) appointed Ethel Isaacs Williams and David J. Grissen as independent directors to its board, effective immediately. With extensive experience, Williams previously served as senior vice president at Kaufman Lynn and held various roles at Florida Power & Light and NextEra Energy. Grissen concluded a successful 35-year career at Marriott International, overseeing extensive operations. Their appointments aim to enhance board diversity and expertise, supporting the company’s goal of maximizing cash flow and shareholder returns.
Chatham Lodging Trust (NYSE: CLDT) has announced the acquisition of two premium-branded hotels in Austin, Texas, for $71.2 million, equating to approximately $265,000 per room. The portfolio includes the Residence Inn and TownePlace Suites, totaling 269 rooms. Expected to generate an estimated NOI yield of 8.0% to 8.5%, these acquisitions aim to enhance portfolio RevPAR and systematically reduce the average age of the portfolio. The properties are strategically located in a rapidly growing area, benefiting from significant corporate demand.
Chatham Lodging Trust (NYSE: CLDT) reported a significant rebound in Q2 2021, with portfolio RevPAR rising 170% to $87 compared to Q2 2020. Average Daily Rate (ADR) increased by 32% to $127, and occupancy surged 105% to 68%. The net loss decreased to $8.7 million from $27.2 million year-over-year, improving net loss per diluted share to $(0.18). Adjusted EBITDA was positive at $12.5 million, marking the fourth consecutive quarter of growth. Chatham raised approximately $116 million through Series A Preferred Shares and plans to acquire two hotels in Austin, Texas, signaling a strategic expansion.
Chatham Lodging Trust (NYSE: CLDT) will report its second quarter 2021 financial results on August 3, 2021, before market open. A conference call with CEO Jeffrey H. Fisher, COO Dennis M. Craven, and CFO Jeremy Wegner will take place at 10:00 a.m. ET on the same day to discuss these results. Investors can access the call via Chatham's website or by dialing in. The trust operates 39 upscale, extended-stay and premium-branded hotels across 15 states and the District of Columbia.
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